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GBP/USD flat in the NFP's aftermath

FXStreet (Córdoba) - GBP/USD wavered around 1.5800, hitting a fresh 14-month low of 1.5789 after the release of below forecast US nonfarm payrolls.

GBP/USD is back at pre-data levels around 1.5830, nearly flat on the day, after hitting a daily high of 1.5850 and a cycle low of 1.5789 within minutes. Markets are trying to figure out what to do with data as the pair fails to sustain the moves for long.

GBP/USD has been under pressure lately as prospects of a BoE rate hike have been postponed amid weak UK economic data. On the other hand, the Federal Reserve ended its QE program this month and recent data supports the view the US recovery is picking up.

GBP/USD is on track to post its third weekly loss in a row as it extends its pullback from this year’s high of 1.7190 reached in July.

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